Key Developments:

• Announced a significant new oil discovery at Whiptail on the Stabroek Block, offshore Guyana; adds to previous gross discovered recoverable resource estimate for the block of approximately 9 billion barrels of oil equivalent (boe)
• Reduced debt by $500 million in July by prepaying half of the Corporation's $1 billion term loan maturing in March 2023
• Expect to receive net proceeds of approximately $375 million in the third quarter from an agreement announced today by Hess Midstream LP to repurchase from its sponsors $750 million of Class B units of Hess Midstream Operations LP
• Plan to add a third rig in the Bakken in September

Second Quarter Financial and Operational Highlights:

• Net loss was $73 million, or $0.24 per common share, including an after-tax charge of $147 million for estimated future abandonment costs relating to a previously disposed asset, compared with a net loss of $320 million, or $1.05 per common share, in the second quarter of 2020
• Adjusted net income¹ in the second quarter of 2021 was $74 million, or $0.24 per common share
• Oil and gas net production, excluding Libya, was 307,000 barrels of oil equivalent per day (boepd); Bakken net production was 159,000 boepd
• E&P capital and exploratory expenditures were $429 million compared with $453 million in the prior-year quarter
• Cash and cash equivalents, excluding Midstream, were $2.42 billion at June 30, 2021

2021 Revised Full Year Guidance:

• Net production, excluding Libya, is expected to be approximately 295,000 boepd, the upper end of the previous guidance range of approximately 290,000 boepd to 295,000 boepd
• E&P capital and exploratory expenditure guidance of approximately $1.9 billion remains unchanged, including the planned increase in Bakken rig count

1. “Adjusted net income (loss)” is a non-GAAP financial measure. The definition of this non-GAAP measure and a reconciliation to its nearest GAAP equivalent measure appears on pages 6 to 8.

NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) today reported a net loss of $73 million, or $0.24 per common share, in the second quarter of 2021, compared with a net loss of $320 million, or $1.05 per common share, in the second quarter of 2020. On an adjusted basis, net income in the second quarter of 2021 was $74 million, or $0.24 per common share. The improvement in adjusted after-tax results compared with the prior-year period primarily reflects higher realized selling prices in the second quarter of 2021.

   “Our company is uniquely positioned to deliver industry leading cash flow growth over the next decade,” CEO John Hess said. “In July, we paid down half of our $1 billion term loan maturing in March 2023 and, depending on market conditions, we plan to repay the balance in 2022. This debt reduction, combined with increasing cash flows from our Guyana developments, will allow us to significantly increase cash returns to shareholders in the coming years through dividend increases and opportunistic share repurchases."

   After-tax income (loss) by major operating activity was as follows:

Exploration and Production:

   E&P net loss was $25 million in the second quarter of 2021, compared with a net loss of $249 million in the second quarter of 2020. On an adjusted basis, E&P's second quarter 2021 net income was $122 million. The Corporation’s average realized crude oil selling price, including the effect of hedging, was $59.79 per barrel in the second quarter of 2021, compared with $38.46 per barrel in the prior-year quarter. The average realized natural gas liquids (NGL) selling price in the second quarter of 2021 was $23.12 per barrel, compared with $7.32 per barrel in the prior-year quarter, while the average realized natural gas selling price was $4.05 per mcf, compared with $2.41 per mcf in the second quarter of 2020.

   Net production, excluding Libya, was 307,000 boepd in the second quarter of 2021, compared with 334,000 boepd in the second quarter of 2020, or 322,000 boepd pro forma for assets sold. Net production for Libya was 21,000 boepd in the second quarter of 2021 compared with zero in the second quarter of 2020 due to force majeure declared by the Libyan National Oil Corporation.

   Cash operating costs, which include operating costs and expenses, production and severance taxes, and E&P general and administrative expenses, were $11.63 per boe (excluding Libya: $12.16 per boe) in the second quarter of 2021, compared with $8.81 per boe (excluding Libya: $8.64 per boe) in the prior-year quarter. The increase was due to higher maintenance and workover activity and production and severance taxes. The increase in the effective tax rate in the second quarter of 2021 compared with the year-ago period was primarily driven by higher production in Libya.

Operational Highlights for the Second Quarter of 2021:

   Bakken (Onshore U.S.): Net production from the Bakken was 159,000 boepd compared with 194,000 boepd in the prior-year quarter, primarily due to lower drilling activity caused by a reduction in rig count from six to one last year, and lower NGL and natural gas volumes received under percentage of proceeds contracts due to higher commodity prices. Net oil production was 79,000 barrels of oil per day (bopd) in the second quarter of 2021 and 108,000 bopd in the prior year quarter. NGL and natural gas volumes received under percentage of proceeds contracts were 14,000 boepd in the second quarter of 2021 compared with 22,000 boepd in the second quarter of 2020 due to higher realized NGL prices lowering volumes received as consideration for gas processing fees. The Corporation added a second rig in February 2021 and drilled 17 wells, completed 9 wells, and brought 9 new wells online during the second quarter. In September, the Corporation plans to add a third rig in the field.

   In April, the Corporation completed the sale of its Little Knife and Murphy Creek nonstrategic acreage interests in the Bakken for net proceeds of $297 million, after closing adjustments. The sale consisted of approximately 78,700 net acres, which were located in the southernmost portion of the Corporation's Bakken position and not connected to Hess Midstream LP infrastructure.

   Gulf of Mexico (Offshore U.S.): Net production from the Gulf of Mexico was 52,000 boepd, compared with 68,000 boepd in the prior-year quarter, primarily due to the sale of the Corporation's interest in the Shenzi Field in the fourth quarter of 2020. Net production from the Shenzi Field was 12,000 boepd in the second quarter of 2020.

   Guyana (Offshore): At the Stabroek Block (Hess – 30%), the operator, Esso Exploration and Production Guyana Limited, announced a significant new oil discovery at Whiptail. The Whiptail-1 well encountered 246 feet (75 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling is also ongoing at the Whiptail-2 well, which is located 3 miles northeast of Whiptail-1 and has encountered 167 feet (51 meters) of net pay in high quality oil bearing sandstone reservoirs. Drilling continues at both wells to test deeper targets, and results will be evaluated for future development. The Whiptail discovery is located approximately 4 miles southeast of the Uaru-1 discovery that was announced in January 2020 and approximately 3 miles west of the Yellowtail Field.

   The Corporation’s net production from the Liza Field was 26,000 bopd in the second quarter of 2021 compared with 22,000 bopd in the prior-year quarter. Startup of Phase 2 of the Liza Field development, which will utilize the Liza Unity floating production, storage and offloading vessel (FPSO) with an expected capacity of 220,000 gross bopd, remains on track for early 2022. The third development, Payara, will utilize the Prosperity FPSO with an expected capacity of 220,000 gross bopd; first oil is expected in 2024. A fourth development, Yellowtail, has been identified on the Stabroek Block with anticipated startup in 2025, pending government approvals and project sanctioning. The Mako-2 appraisal well completed in the second quarter confirmed the quality, thickness and areal extent of the reservoir. When integrated with the previously announced results at Uaru-2, the combined discovered resource at Mako and Uaru is expected to support a fifth FPSO on the Stabroek Block. We expect to have at least six FPSOs on the Stabroek Block by 2027 with the potential for up to 10 FPSOs to develop the current discovered recoverable resource base.

   The Longtail-3 well encountered 230 feet of net pay, including newly identified, high quality hydrocarbon bearing reservoirs below the original Longtail-1 discovery intervals. The well was drilled in more than 6,100 feet of water and is located approximately 2 miles south of the Longtail-1 well.

   The Koebi-1 exploration well was drilled to a depth of 20,700 feet and did not encounter commercial quantities of hydrocarbons. Second quarter results include a charge of $12 million in exploration expenses for well costs incurred.

   The Stena DrillMax is continuing drilling operations at Whiptail-1 and the Noble Don Taylor is continuing drilling operations at Whiptail-2. The Stena Carron is performing a drill stem test on the Uaru-1 well. The Noble Tom Madden, the Noble Bob Douglas and the Noble Sam Croft are drilling and completing Phase 2 development wells.

   South East Asia (Offshore): Net production at the North Malay Basin and JDA was 66,000 boepd, compared with 44,000 boepd in the prior-year quarter, reflecting higher natural gas nominations due to a recovery in economic activity.

Midstream:

   The Midstream segment had net income of $76 million in the second quarter of 2021, compared with net income of $51 million in the prior-year quarter, primarily due to higher revenue from minimum volume commitments and tariff rates.

   Hess Midstream LP today announced an agreement to purchase approximately 31 million Class B units of its consolidated subsidiary, Hess Midstream Operations LP, from its sponsors, Hess Corporation and Global Infrastructure Partners, for approximately $750 million. The Corporation is expected to receive net proceeds of approximately $375 million. After giving effect to this transaction, which is expected to be completed in the third quarter of 2021, the Corporation will own an approximate 45% interest in Hess Midstream LP, on a consolidated basis.

Corporate, Interest and Other:

   After-tax expense for Corporate, Interest and Other was $124 million in the second quarter of 2021, compared with $122 million in the second quarter of 2020.

Capital and Exploratory Expenditures:

   E&P capital and exploratory expenditures were $429 million in the second quarter of 2021 compared with $453 million in the prior-year quarter, primarily due to lower drilling activity in the Bakken and Gulf of Mexico, partially offset by increased exploration and development activity in Guyana. Midstream capital expenditures were $47 million in the second quarter of 2021, down from $79 million in the prior-year quarter.

Liquidity:

   Excluding the Midstream segment, Hess Corporation had cash and cash equivalents of $2.42 billion and debt and finance lease obligations totaling $6.6 billion at June 30, 2021. The Midstream segment had cash and cash equivalents of $6 million and total debt of $1.8 billion at June 30, 2021. The Corporation’s debt to capitalization ratio as defined in its debt covenants was 47.2% at June 30, 2021 and 47.5% at December 31, 2020. The Corporation has no material near-term debt maturities aside from the $1.0 billion term loan, which matures in March 2023. In July 2021, the Corporation prepaid $500 million principal amount of the term loan, which was classified as current maturities of long-term debt, in the consolidated balance sheet at June 30, 2021.

   Net cash provided by operating activities was $785 million in the second quarter of 2021, up from $266 million in the second quarter of 2020 primarily due to higher realized selling prices. Net cash provided by operating activities before changes in operating assets and liabilities² was $659 million in the second quarter of 2021, compared with $301 million in the prior-year quarter. Changes in operating assets and liabilities increased cash flow from operating activities by $126 million during the second quarter of 2021 and decreased cash flow from operating activities by $35 million during the prior-year quarter.

Items Affecting Comparability of Earnings Between Periods:

   The following table reflects the total after-tax income (expense) of items affecting comparability of earnings between periods:

   Second Quarter 2021: E&P results include a charge of $147 million ($147 million after income taxes) in connection with estimated future abandonment obligations of Fieldwood Energy LLC in the West Delta 79/86 field (West Delta Field) in the Gulf of Mexico. In June 2021, the U.S. Bankruptcy Court approved Fieldwood’s bankruptcy plan which includes discharging decommissioning obligations, subject to conditions precedent, for certain of Fieldwood’s assets. Those obligations will transfer to former owners of the properties, including Hess with respect to the West Delta Field, which Hess sold in 2004. Potential recoveries from other parties that previously owned an interest in the West Delta Field have not been recognized as of June 30, 2021.

   2. “Net cash provided by (used in) operating activities before changes in operating assets and liabilities” is a non-GAAP financial measure. The definition of this non-GAAP measure and a reconciliation to its nearest GAAP equivalent measure appears on pages 7 and 8.

Reconciliation of U.S. GAAP to Non-GAAP measures:

   The following table reconciles reported net income (loss) attributable to Hess Corporation and adjusted net income (loss):

   The following table reconciles reported net cash provided by (used in) operating activities from net cash provided by (used in) operating activities before changes in operating assets and liabilities:

Hess Corporation will review second quarter financial and operating results and other matters on a webcast at 10 a.m. today (EDT). For details about the event, refer to the Investor Relations section of our website at www.hess.com.

Hess Corporation is a leading global independent energy company engaged in the exploration and production of crude oil and natural gas. More information on Hess Corporation is available at www.hess.com.

Forward-looking Statements

This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as “anticipate,” “estimate,” “expect,” “forecast,” “guidance,” “could,” “may,” “should,” “would,” “believe,” “intend,” “project,” “plan,” “predict,” “will,” “target” and similar expressions identify forward-looking statements, which are not historical in nature. Our forward-looking statements may include, without limitation: our future financial and operational results; our business strategy; estimates of our crude oil and natural gas reserves and levels of production; benchmark prices of crude oil, NGL and natural gas and our associated realized price differentials; our projected budget and capital and exploratory expenditures; expected timing and completion of our development projects, proposed asset sale and the Midstream Class B unit repurchase; and future economic and market conditions in the oil and gas industry.

Forward-looking statements are based on our current understanding, assessments, estimates and projections of relevant factors and reasonable assumptions about the future. Forward-looking statements are subject to certain known and unknown risks and uncertainties that could cause actual results to differ materially from our historical experience and our current projections or expectations of future results expressed or implied by these forward-looking statements. The following important factors could cause actual results to differ materially from those in our forward-looking statements: fluctuations in market prices of crude oil, NGL and natural gas and competition in the oil and gas exploration and production industry, including as a result of the global COVID-19 pandemic; reduced demand for our products, including due to the global COVID-19 pandemic or the outbreak of any other public health threat, or due to the impact of competing or alternative energy products and political conditions and events; potential failures or delays in increasing oil and gas reserves, including as a result of unsuccessful exploration activity, drilling risks and unforeseen reservoir conditions, and in achieving expected production levels; changes in tax, property, contract and other laws, regulations and governmental actions applicable to our business, including legislative and regulatory initiatives regarding environmental concerns, such as measures to limit greenhouse gas emissions and flaring as well as fracking bans; disruption or interruption of our operations due to catastrophic events, such as accidents, severe weather, geological events, shortages of skilled labor, cyber-attacks or health measures related to the COVID-19 pandemic; the ability of our contractual counterparties to satisfy their obligations to us, including the operation of joint ventures under which we may not control; the ability to satisfy the closing conditions of the proposed asset sale and the Midstream Class B unit repurchase; unexpected changes in technical requirements for constructing, modifying or operating exploration and production facilities and/or the inability to timely obtain or maintain necessary permits; availability and costs of employees and other personnel, drilling rigs, equipment, supplies and other required services; any limitations on our access to capital or increase in our cost of capital, including as a result of weakness in the oil and gas industry or negative outcomes within commodity and financial markets; liability resulting from litigation, including heightened risks associated with being a general partner of Hess Midstream LP; and other factors described in Item 1A—Risk Factors in our Annual Report on Form 10-K and any additional risks described in our other filings with the Securities and Exchange Commission (SEC).

As and when made, we believe that our forward-looking statements are reasonable. However, given these risks and uncertainties, caution should be taken not to place undue reliance on any such forward-looking statements since such statements speak only as of the date when made and there can be no assurance that such forward-looking statements will occur and actual results may differ materially from those contained in any forward-looking statement we make. Except as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise.

Non-GAAP financial measures

The Corporation has used non-GAAP financial measures in this earnings release. “Adjusted net income (loss)” presented in this release is defined as reported net income (loss) attributable to Hess Corporation excluding items identified as affecting comparability of earnings between periods. “Net cash provided by (used in) operating activities before changes in operating assets and liabilities” presented in this release is defined as Net cash provided by (used in) operating activities excluding changes in operating assets and liabilities. Management uses adjusted net income (loss) to evaluate the Corporation’s operating performance and believes that investors’ understanding of our performance is enhanced by disclosing this measure, which excludes certain items that management believes are not directly related to ongoing operations and are not indicative of future business trends and operations. Management believes that net cash provided by (used in) operating activities before changes in operating assets and liabilities demonstrates the Corporation’s ability to internally fund capital expenditures, pay dividends and service debt. These measures are not, and should not be viewed as, a substitute for U.S. GAAP net income (loss) or net cash provided by (used in) operating activities. A reconciliation of reported net income (loss) attributable to Hess Corporation (U.S. GAAP) to adjusted net income (loss), and a reconciliation of net cash provided by (used in) operating activities (U.S. GAAP) to net cash provided by (used in) operating activities before changes in operating assets and liabilities are provided in the release.

Cautionary Note to Investors

We use certain terms in this release relating to resources other than proved reserves, such as unproved reserves or resources. Investors are urged to consider closely the oil and gas disclosures in Hess Corporation’s Form 10-K, File No. 1-1204, available from Hess Corporation, 1185 Avenue of the Americas, New York, New York 10036 c/o Corporate Secretary and on our website at www.hess.com. You can also obtain this form from the SEC on the EDGAR system.

For Hess Corporation

Investor Contact:
Jay Wilson
(212) 536-8940

Media Contacts:
Lorrie Hecker
(212) 536-8250

Jamie Tully
Sard Verbinnen & Co
(917) 679-7908

Energy Impact Partners’ new “Elevate” fund supports clean energy companies owned by diverse and underrepresented groups in the industry

MINNEAPOLIS--(BUSINESS WIRE)--Xcel Energy announced today that it is co-chairing and investing in Energy Impact Partners’ Elevate Future Fund (“Elevate”) as a founding, limited partner. Energy Impact Partners is a global investment platform that supports the development of new, clean energy technologies, and Xcel Energy is a long-time investor in the company. The new Elevate fund aims to create a more diverse founder community and an inclusive venture capital ecosystem within the clean energy transition.

“Xcel Energy is deeply committed to building an energy future that reflects the rich diversity of the communities that we serve. We are pleased and proud to have the opportunity to both invest in and co-chair the Elevate Fund,” said Ben Fowke, CEO and chairman of Xcel Energy. “The goals of this fund align with our own and we are excited to support both the development of clean energy technologies and the diverse founders of the companies doing this critical work.”

The Elevate fund has already invested in three diverse companies, including Los Angeles-based ChargerHelp!, a Black women-owned started up that developed a mobile application and web-based platform for rapid, on-demand repair of electric vehicle charging stations. Elevate will help ChargerHelp! Expand its service and improve its technology. The fund has also invested in Project Canary, an international environmental standards company based in Denver, and in a company called HopSkipDrive, which offers innovative, safe and dependable youth transportation for schools, districts, government agencies and families.

“I look forward to working with Xcel Energy in creating a more equitable, diverse and inclusive energy transition through the Elevate Future Fund,” said Anthony Oni, managing partner of the Fund at Energy Impact Partners. “With the creation of the Elevate Future Fund, we are addressing the need for the venture capital community to come together to provide better opportunities for underserved communities in our industry. Xcel Energy’s commitment will help us address this need.”

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.

About Energy Impact Partners

Energy Impact Partners, LP (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.0 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London, and Cologne. For more information on EIP, please visit www.energyimpactpartners.com.

Xcel Energy Media Relations
414 Nicollet Mall, 401-7
Minneapolis, MN 55401
(612) 215-5300
www.xcelenergy.com

Second Quarter 2021

• GAAP EPS from continuing operations of $2.78 versus a loss of $(1.41) in prior year, reflecting significantly improved results in fleet management solutions and prior-year COVID-19 effects
• Comparable EPS (non-GAAP) from continuing operations of $2.40 versus a loss of $(0.95) in prior year
• Total revenue of $2.4 billion and operating revenue (non-GAAP) of $1.9 billion up 26% and 18% respectively, reflecting double-digit revenue growth across all business segments

Full-Year 2021 Forecast

• Increased GAAP EPS forecast to $7.40 - $7.70 from $5.65 - $6.05
• Increased comparable EPS (non-GAAP) forecast to $7.20 - $7.50 from $5.50 - $5.90
• Expect to achieve adjusted ROE (ROE) of 16% - 17% exceeding our long-term target of 15%
• Maintained cash flow from operating activities forecast of $2.2B; increased free cash flow (non-GAAP) forecast to $650M - $750M to reflect OEM vehicle delivery delays

MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE: R), a leader in supply chain, dedicated transportation, and fleet management solutions, reported results for the three months ended June 30 as follows:

Total and operating revenue for the three months ended June 30 were as follows:

CEO Comment

Commenting on the company's results and outlook, Ryder Chairman and CEO Robert Sanchez said, "Our team delivered strong second quarter results that exceeded our expectations, driven by significant improvement in FMS results due to higher gains on used vehicles sold as well as strong lease and rental performance. We're excited to see strong sales activity across all segments, reflecting continued strength in secular growth trends. Our innovative technology offerings, such as RyderShare™, are strategic differentiators for us, as our customers seek expanded supply chain and transportation capabilities and increased resiliency.

"We continue to make significant progress on our longer-term return initiatives and now anticipate achieving ROE of 16% - 17% this year while generating strong free cash flow. We expect these results to be driven by improved used vehicle sales results from strong demand and limited market inventory, better pricing in our lease and commercial rental businesses, and strong demand in commercial rental as the economic outlook continues to improve. Given our outlook for a strong freight environment going into 2022, we expect continued favorable performance in FMS driven by lease, rental, and used vehicle sales. We now expect nearly all of our leases to perform above target returns. In SCS and DTS, we are on track to meet or exceed our revenue growth targets, but we anticipate returns to be impacted by increased labor and insurance costs as well as strategic investments in new technologies, new locations in our Ryder Last Mile network, and our Ever better™ brand awareness campaign.

"Based on this outlook and the actions we have implemented to enhance returns over the long term, we have significantly increased our forecast and expect to deliver comparable EPS of $7.20 - $7.50 compared to a loss of $0.27 in 2020. In addition, we're raising our free cash flow forecast for the year. Our balance sheet remains strong and leverage is near the bottom end of our target range, providing opportunity for future strategic acquisitions and/or share repurchases."

Outlook

Second Quarter Business Segment Operating Results

Fleet Management Solutions: Higher Earnings Reflect Improved Used Vehicle Sales, Rental, and Lease Results

FMS revenue increased due to higher rental and ChoiceLease revenue. Total revenue also increased from higher fuel pricing.

FMS EBT increased by $262 million reflecting higher gains on used vehicles sold and a declining impact of depreciation expense from prior vehicle residual value estimate changes, which together totaled $131 million. Used vehicle pricing on trucks and tractors increased 72% and 73%, respectively, from the prior year, and ending inventory levels declined to 4,300 vehicles, well below our target range of 7,000 - 9,000 vehicles. Rental results benefited from a 13% increase in pricing and better utilization. Rental power fleet utilization increased to 80% (up from 56% in the prior year) on a 2% smaller average power fleet. Prior-year rental results were negatively impacted by COVID-19. Lease results benefited from higher lease pricing and increased miles driven, partially offset by a smaller lease fleet. FMS EBT as a percentage of FMS operating revenue surpassed the company's long-term target of high single digits; however, it was below the target for the trailing twelve-month period, reflecting depreciation from residual value estimate changes in prior quarters.

Supply Chain Solutions: Higher Earnings from Revenue Growth, Partially Offset by Higher Overhead Including Strategic Investments

SCS total revenue and operating revenue increased due to higher automotive revenues, reflecting increased volumes and prior-year COVID-19 impacts. Total and operating revenue also increased by double-digit percentages due to new business and higher volumes in other industry verticals.

SCS EBT benefited from revenue growth, primarily in automotive, and were partially offset by strategic investments in marketing and technology, as well as increased incentive compensation and medical costs. SCS EBT as a percentage of SCS operating revenue is below the company's long-term target of high single digits, but it is at target for the trailing twelve-month period.

Dedicated Transportation Solutions: Earnings from Strong Revenue Growth More Than Offset by Higher Labor Costs, Insurance Expense, and Strategic Investments

DTS total and operating revenue increased due to new business and higher volumes. Revenue growth from new business can be largely attributed to wins from competitors and private fleet conversions.

DTS EBT decreased primarily due to increased labor costs, higher insurance costs, and strategic investments. DTS EBT as a percentage of DTS operating revenue is below the company's long-term target of high single digits.

Corporate Financial Information

Unallocated Central Support Services (CSS)

Unallocated CSS costs were $18 million as compared to $11 million in the prior year, primarily due to higher incentive compensation-related expenses reflecting significantly improved company performance.

Income Taxes

Our effective income tax rate from continuing operations was an expense of 26.5% as compared to a benefit of 22.2% in the prior year. The prior-year tax rate was impacted by a reduction in earnings due to accelerated depreciation charges and COVID-19 effects.

Capital Expenditures, Cash Flow, and Leverage

Year-to-date capital expenditures increased to $963 million in 2021 compared with $597 million in 2020 primarily due to higher planned investments in the rental fleet.

Year-to-date operating cash flow remained at $1.1 billion, reflecting higher earnings, offset by higher working capital needs. Free cash flow (a non-GAAP measure) was $602 million, down from $612 million in 2020 due an increase in cash paid for capital expenditures, partially offset by higher proceeds from the sale of revenue earning equipment and operating property and equipment. We forecast full-year 2021 cash from operating activities of approximately $2.2 billion and free cash flow of $650 million - $750 million, which is at the high end of our previous forecast range and primarily reflects a cash flow benefit from OEM vehicle delivery delays.

Debt-to-equity as of June 30, 2021 declined to 258% from 293% at year-end 2020, and is within the company's long-term target of 250 - 300%. The decrease in debt-to-equity from year-end 2020 was driven by lower debt as a result of higher free cash flow.

Supplemental Company Information

Second Quarter Net Earnings

Business Description

Ryder System, Inc. is a leading supply chain, dedicated transportation, and fleet management solutions company. Ryder’s stock (NYSE: R) is a component of the Dow Jones Transportation Average and the S&P MidCap 400^® index. The company’s financial performance is reported in the following three, inter-related business segments:

• Supply Chain Solutions – Ryder’s SCS business segment optimizes logistics networks to make them more responsive and able to be leveraged as a competitive advantage. Globally-recognized brands in the automotive, consumer goods, food and beverage, healthcare, industrial, oil and gas, technology, and retail industries rely on Ryder’s leading-edge technologies and world-class logistics engineers to help them deliver the goods that consumers use every day.
• Dedicated Transportation Solutions – Ryder’s DTS business segment combines the best of Ryder’s leasing and maintenance capability with the safest and most professional drivers in the industry. With a dedicated transportation solution, Ryder helps customers increase their competitive position, reduce risk, and integrate their transportation needs with their overall supply chain.
• Fleet Management Solutions – Ryder’s FMS business segment provides a broad range of services to help businesses of all sizes, across virtually every industry, deliver for their customers. From leasing, maintenance, and fueling, to rental and used vehicle sales, customers rely on Ryder’s expertise to help them lower their costs, redirect capital to other parts of their business, and focus on what they do best – so they can grow.

For more information on Ryder System, Inc., visit investors.ryder.com and ryder.com.

Note: Regarding Forward-Looking Statements

Certain statements and information included in this news release are “forward-looking statements” under the Federal Private Securities Litigation Reform Act of 1995, including our forecast, expectations regarding market trends and economic environment; impact of the COVID-19 pandemic on market conditions, e-commerce trends, freight environment, earnings, depreciation, commercial rental demand and utilization, and used vehicle sales volume and pricing, expected benefits from our strategic investments and initiatives, including our multi-year maintenance cost-savings initiatives; expected benefits of lease pricing initiatives; implementation of our asset management strategy; performance, including sales and revenue growth, in our product lines and segments; residual values and depreciation expense; used vehicle inventory; rental utilization; free cash flow; operating cash flow; capital expenditures; fleet growth; and profitability of our Ryder Last Mile operations. Our forward-looking statements also include our estimates of the impact of our changes to residual value estimates on earnings and depreciation expense. The expected impact of the change in residual value estimates is based on our current assessment of the residual values and useful lives of revenue-earning equipment based on multi-year trends and our outlook for the expected near- and long-term used vehicle market. Our assessment is subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results related to vehicle residual values to materially differ from estimates include changes in supply and demand, competitor pricing, regulatory requirements, driver shortages, changes in customer requirements and preferences, as well as changes in underlying assumption factors.

All of our forward-looking statements should be evaluated by considering the many risks and uncertainties inherent in our business that could cause actual results and events to differ materially from those in the forward-looking statements. Important factors that could cause such differences include, the effect of the COVID-19 pandemic; our ability to adapt to changing market conditions, lower than expected contractual sales, decreases in commercial rental demand or utilization or poor acceptance of rental pricing, declining market demand for or excess supply of used vehicles impacting current or estimated pricing and our anticipated proportion of retail versus wholesale sales; declining customer demand for our services; higher than expected maintenance costs; lower than expected benefits from our cost-savings initiatives; lower than expected benefits from our sales, marketing and new product initiatives; higher than expected costs related to our ERP implementation; setbacks in the economic market or in our ability to retain profitable customer accounts; impact of changing laws and regulations, difficulty in obtaining adequate profit margins for our services; inability to maintain current pricing levels due to soft economic conditions, business interruptions or expenditures due to labor disputes, severe weather or natural occurrences; competition from other service providers and new entrants; driver and technician shortages resulting in higher procurement costs and turnover rates; impact of worldwide semiconductor shortage, higher than expected bad debt reserves or write-offs; decrease in credit ratings; increased debt costs; adequacy of accounting estimates; higher than expected reserves and accruals particularly with respect to pension, taxes, insurance and revenue; impact of changes in our residual value estimates and accounting policies, including our depreciation policy; unanticipated changes in fuel prices; unanticipated currency exchange rate fluctuations; our ability to manage our cost structure; and the risks described in our filings with the Securities and Exchange Commission (SEC). The risks included here are not exhaustive. New risks emerge from time to time and it is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Note: Regarding Non-GAAP Financial Measures

This news release includes certain non-GAAP financial measures as defined under SEC rules. Refer to Appendix - Non-GAAP Financial Measure Reconciliations at the end of the tables following this press release for reconciliations of the non-GAAP financial measures contained in this release to the nearest GAAP measure and why management believes that presentation of each measure provides useful information to investors. Additional information regarding non-GAAP financial measures as required by Regulation G and Item 10(e) of Regulation S-K can be found in our most recent Form 10-K, Form 10-Q and our Form 8-K filed as of the date of this release with the SEC, which are available at http://investors.ryder.com.

CONFERENCE CALL AND WEBCAST INFORMATION

Ryder’s earnings conference call and webcast is scheduled for July 28, 2021 at 11:00 a.m. ET. To join, click here.

LIVE AUDIO VIA PHONE
Toll Free Number: 888-352-6803
USA Toll Number: 323-701-0225
Audio Passcode: Ryder
Conference Leader: Bob Brunn

AUDIO REPLAY VIA PHONE
An audio replay of the call will be available one hour after call ends for 30 days.
Toll Free Number: 888-203-1112
USA Toll Number: 719-457-0820
Replay Passcode: 1420126

AUDIO REPLAY VIA MP3 DOWNLOAD
A podcast will be available within 24 hours after the end of the call. Click here then select Financials/Quarterly Reports and the date.

AUDIO & SLIDE REPLAY VIA INTERNET
An audio replay including the slide presentation will be available on the Internet within two hours following the call. Click here then select Financials/Quarterly Reports and the date.

Financial = ryder-financial
USA = ryder-usa

Media:
Amy Federman
(305) 500-4989

Investor Relations:
Bob Brunn
(305) 500-4053

TULSA, Okla.--(BUSINESS WIRE)--Williams’ (NYSE: WMB) board of directors has approved a regular dividend of $0.41 per share, or $1.64 annualized, on the company’s common stock, payable on Sept. 27, 2021, to holders of record at the close of business on Sept. 10, 2021.

The dividend is consistent with the second-quarter 2021 dividend and is a 2.5% increase from Williams’ third-quarter 2020 quarterly dividend of $0.40 per share, paid in September 2020.

Some portion of this distribution may be considered a return of capital for tax purposes. Additional information regarding return of capital distributions is available at Williams’ investor relations website.

Williams has paid a common stock dividend every quarter since 1974.

About Williams

Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use. www.williams.com

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company’s annual and quarterly reports filed with the Securities and Exchange Commission.

MEDIA:
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(800) 945-8723

INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075

Grace Scott
(918) 573-1092

BUFFALO, N.Y.--(BUSINESS WIRE)--Viridi Parente, Inc., a developer of innovative battery technology that can be safely installed and operated in nearly any environment or location, announced today that Steve Finch is joining the company as president of manufacturing and community engagement. Finch, a Buffalo native and well-known business and civic leader throughout Western New York, will leverage more than 40 years of automotive operations and management experience with General Motors (GM) to guide the manufacturing of green technology that generates employment and training opportunities while fostering strong community relationships.

“Steve has the extraordinary ability to focus on complex problems and lead organizations through constantly changing environments while continuing to make sure his team and the community have opportunities to grow and develop. His approach will benefit Viridi Parente as we continue innovating green tech solutions that benefit all our stakeholders,” said Jon M. Williams, founder and CEO of Viridi Parente.

Finch established his expertise in all facets of automotive manufacturing over four decades with GM, working his way up from the assembly plant floor to management positions. He most recently served as plant manager of GM’s Powertrain plant in his hometown of Tonawanda, N.Y., where he served from 2007 until his retirement in 2017. During this timeframe, he oversaw a team of more than 1,600 employees through economic downturns, new engine design initiatives and a multi-billion-dollar plant renovation. Before returning to Tonawanda, Finch managed GM’s engine plant in Flint, Mich.

Following his retirement from GM, Finch was appointed senior vice president of automotive services for AAA Western and Central New York, a not-for-profit organization that provides its members with travel, insurance, driver training, and automotive services. He served on the Auto Club’s board of directors from 2011-2018.

Throughout Western New York, Finch is a highly respected community leader, advocate, and role model. He currently serves as chair of the board of directors for the Buffalo Urban League, a nonprofit that empowers African Americans, other minorities, and disadvantaged individuals. He is also a former board chair for United Way of Buffalo & Erie County. In 2003, Finch earned the Award of Excellence from Buffalo Black Achievers and was declared Buffalo’s 34^th most influential person in 2017.

Finch earned a bachelor’s degree in electrical engineering from Kettering University (formerly the General Motors Institute) in Flint, Mich. While pursuing his education, Finch was a member of the Engineering Society of Detroit and a board member of the Michigan Technical Education Center at Mott Community College.

Viridi Parente deploys safe lithium-ion battery technology into applications that have been historically dominated by fossil fuel energy sources. The company’s architecture for its Green Machine mobile energy solution for the industrial market and its Volta Energy Products energy storage system for industrial, medical, commercial, municipal, and residential users is the only design in the market that can be safely installed and operated in nearly any environment or location. The company’s 42-acre campus, a former GM manufacturing facility, is bringing green jobs and workforce training opportunities to one of the nation’s most impoverished zip codes while also serving as a model of how adaptive reuse projects can spur the economy and revitalize communities.

To view Steve Finch’s headshot, please visit https://www.dropbox.com/sh/yky25wpsvgtjwrg/AADkcSuXAgbrVfTqeiYknvIsa?dl=0

About Viridi Parente

Viridi Parente (Viridi) is a disruptive energy company in Buffalo, New York, that is changing the way we use energy, improving systems, communities, and lives. Viridi deploys safe battery technology into applications that have been historically dominated by fossil fuel energy sources. Its innovative architecture is constructed from materials used for aerospace and military applications and is the only design in the market that can be safely installed and operated in nearly any environment or location. Through its subsidiary, Green Machine Equipment, Viridi is bringing quiet, fully renewable mobile energy solutions to products in construction equipment, waste disposal, last-mile delivery, and other portable industrial markets. Through its subsidiary, Volta Energy Products, Viridi brings stationary, point-of-use storage technology that is safe, locatable, and reliable to industrial, medical, commercial, municipal, and residential building applications. Learn more at: www.viridiparente.com.

Media Contact:
Mercom Communications
Wendy Prabhu
Tel: 1-512-215-4452
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Operator’s Flex Alert Requests Voluntary Conservation from 4 p.m. to 9 p.m. Today

You Can Take Simple Actions to Protect Grid Reliability

SAN FRANCISCO--(BUSINESS WIRE)--With higher than normal temperatures forecast in some parts of California today, the state’s power grid operator is asking residents statewide to voluntarily conserve electricity this afternoon and evening when the grid is most stressed due to higher demand and energy supplies are tighter.

The Flex Alert, called by the California Independent System Operator (CAISO), was issued yesterday and will be in effect today from 4 p.m. to 9 p.m. The grid operator is predicting an increase in electricity demand, primarily from air conditioning use.

The grid operator is asking all Californians to reduce electricity use during a Flex Alert to prevent further emergency measures, including rotating power outages.

Saving Energy at Home

Here are ways Pacific Gas and Electric Company (PG&E) customers can cut their power use and help keep the lights (and air conditioning) on for everyone:

• Pre-cool your home or workspace. Lower your thermostat in the morning. As the temperature rises outside, raise your thermostat and circulate the pre-cooled air with a fan.
• Set your thermostat at 78 degrees or higher, health permitting: Every degree you lower the thermostat means your air conditioner must work even harder to keep your home cool.
• When it’s cooler outside, bring the cool air in: If the outside air is cool in the night or early morning, open windows and doors and use fans to cool your home.
• Close your shades: Sunlight passing through windows heats your home and makes your air conditioner work harder. Block this heat by keeping blinds or drapes closed on the sunny side of your home.
• Cool down with a fan: Fans keep air circulating, allowing you to raise the thermostat a few degrees and stay just as comfortable while reducing your air-conditioning costs.
• Charge your EVs outside peak hours. Along with using large appliances, remember to charge your electric vehicle in the morning or after 9 p.m.
• Clear the area around your AC unit: Your air-conditioning unit will operate more efficiently if it has plenty of room to breathe. The air conditioner's outdoor unit, the condenser, needs to be able to circulate air without any interruption or obstruction. Also, dirty air filters make your air conditioner work harder to circulate air. By cleaning or replacing your filters monthly, you can improve energy efficiency and reduce costs.

Saving Energy at Your Office or Business

If you’re working in an office setting, CAISO recommends the following:

• Turn off any office equipment that is not currently in use. Alternately, look for sleep or power-saving modes in between uses during the day.
• Enable power management settings on all computers so that they go to sleep and turn off screens when not in use.
• Plug electronics such as coffeemakers and microwaves into power strips and switch them off when the day is done.
• As you leave the office, get in the habit of checking to make sure computers, printers/copiers, and other office equipment is fully shut down. If possible, switch them off at the power strip to ensure they are no longer draining energy.

PG&E’s Demand Response programs offer incentives for business owners and residential customers who curtail their energy use during times of peak demand. PG&E has several of these programs, totaling about 261,000 enrolled PG&E customers.

PG&E’s website includes detailed information on these programs, which allow residential customers and business customers to save energy and money.

PG&E is prepared for the heat and, based on forecasts, doesn’t anticipate issues meeting increased demand for power.

Also, at this time, the grid operator has not indicated that it plans to call for rotating outages. PG&E does not project a need for a Public Safety Power Shutoff due to this weather, but the company’s meteorology team will continuously monitor conditions.

PG&E also urges customers to stay safe during extreme heat. The company funds cooling centers throughout its service area to help customers escape the heat and cool off. To find a center near you click here or call 1-877-474-3266.

About PG&E

Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit pge.com and pge.com/news.

Media Relations:
415-973-5930

New bio-based surfactant TegraSurf displays versatility while reducing harmful chemicals

CRESSON, Texas--(BUSINESS WIRE)--Integrity BioChem (IBC), a technology-driven company developing next-generation biopolymers, today announced the release of TegraSurf, a renewable line of water-based bio-based surfactants engineered for energy, mining, agricultural, water treatment and other industrial applications. Built with sustainable vegetative materials, this first-of-its-kind technology improves the carbon footprint of production without compromising product performance.

TegraSurf functions as effectively as a synthetic (mineral oil-based) surfactant and is produced faster and at larger volumes with lower costs than other bio-based offerings in the market. TegraSurf is used in formulations to reduce or replace leading non-ionic surfactants, such as nonylphenols and alcohol ethoxylates. The product reports a Renewable Carbon Index (RCI) greater than 90% and is certified Readily Biodegradable by OECD 301B protocol. TegraSurf does not exist in the environment after 90 days, which allows for safer and healthier conditions for nearby communities and enables formulators to meet industry sustainability standards.

“Each time formulators add TegraSurf to a blend, large amounts of synthetic chemistry are removed, helping manufacturers replace untold gallons of harmful products with gallons of environmentally friendly products,” said Jimmy Jett, CEO of IBC. “TegraSurf performs like a synthetic with all the environmental benefits of a bio-based surfactant – it’s a game-changer in the biochemical industry.”

“TegraSurf is a product that checks a lot of boxes for our sustainability efforts, and we’re happy to be a partner of IBC,” said Greg McKee, Director of Supply Chain at Liberty Oilfield Services.

In addition to being sustainably manufactured, TegraSurf is a more versatile and efficient product than many synthetic alternatives. With a hydrophilic-lipophilic balance (HLB) tunable from 7 to 19, TegraSurf can be used in a wide variety of applications, something bio-based surfactants do not commonly have the ability to do. This versatility, paired with its cost-effective production process, positions TegraSurf as a valuable asset at an affordable price point.

TegraSurf was engineered alongside EdenSurf, IBC’s bio-based surfactant for the personal care and household industries. The development of these two technologies reflects increasing customer demand for sustainable solutions, and IBC is proud to lead this market with its renewable innovations.

About Integrity BioChem

Founded in 2017, Integrity Bio-Chemicals (IBC) is a technology-driven company with a deep bench of industry experts producing next-generation modified biopolymers for the energy, mining, industrial, and household and personal care markets using renewable and sustainable practices. IBC is first to market with a new category of patent-pending, high-performance surfactants, created with natural sources and capable of faster production cycles at larger scales and lower costs. Our commitment to transparency and innovation brings world-class service to our customers worldwide.

Chad Hall
Vice President, Production Enhancement
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HOUSTON--(BUSINESS WIRE)--Safe Marine Transfer, LLC. (SMT) announced that LiquidPower Specialty Products Inc. (LSPI) has taken an equity interest in SMT and has entered a strategic alliance to deliver LSPI’s market leading drag reducing agents (DRA) subsea via SMT’s patented all electric dual barrier subsea storage and delivery technologies. Drag reducing agents (DRA), also known as flow improvers, are long-chain hydrocarbon polymers that act as turbulence inhibitors along the pipe wall to decrease the amount of energy lost in turbulent activity.

The introduction of DRA at the subsea well/drill center has the potential to significantly increase production in a cost-effective manner, by increasing flow rates in existing subsea production lines, subsea gathering lines, and subsea trunk lines. Marina Kaplan, LSPI’s Vice President of Strategy and Corporate Development, “SMT presents LSPI with a unique opportunity to leverage over four decades of pioneering technology, product development and global delivery to a completely new market where we have the potential to significantly increase subsea well tieback production.”

Additionally, SMT announced that Subsea 7 has taken minority equity interest in SMT and entered a Cooperation Agreement to assist in the delivery of SMT’s services and LSPI DRA on a global basis. Mr. Graeme Kinnell, Subsea 7 Board Observer, “Subsea 7 is pleased to be positioned to offer new and unique services to our subsea oil company clients via our relationship with SMT and LSPI. This investment helps support our vision to lead the way in the delivery of offshore projects and services for the energy industry.”

SMT’s CEO and co-founder Art J. Schroeder, Jr., “We are very pleased that these two world-class companies have chosen SMT as a partner to expand their range of products and services. LSPI, as a global leader in drag reduction technology, brings a proven value-add product. Subsea 7, with its global fleet of marine equipment, marine support, manufacturing, and assembly sites offers an established global delivery team. We look forward to jointly working with our subsea oil company customers to deliver additional value in their subsea tiebacks.”

About LiquidPower Specialty Products Inc. (LSPI)

LiquidPower Specialty Products Inc. (LSPI), a Berkshire Hathaway Company, is the global leader in the science and application of drag reduction, with over 40 years of experience. LSPI specializes in DRA technology by maximizing the flow potential of pipelines, increasing operational flexibility and throughput capacity. Through its partnership with SMT, LSPI will provide DRA for subsea application to significantly increase production by creating higher flow rates in existing subsea production lines, subsea gathering lines, and subsea trunk lines. For more information, visit www.liquidpower.com

About Subsea 7

Subsea 7 is a global leader in the delivery of offshore projects and services for the evolving energy industry. Subsea 7 creates sustainable value by being the industry’s partner and employer of choice in delivering the efficient offshore solutions the world needs. For more information, visit www.Subsea7.com

About SMT

Founded in Houston, Texas, in 2012 by Jim Chitwood and Art Schroeder, SMT grew out of a need identified by the oil company driven DeepStar® consortium. Initial partial funding was provided by the National Energy Technology Laboratory (NETL), United States Department of Energy through the Research Partnership to Secure Energy for America (RPSEA), DeepStar® in-kind contributions, and generous industry support. SMT is now focused exclusively on DRA delivery with partners LSPI and Subsea 7. For more information, please visit www.SafeMarineTransfer.com

Fernanda Soares
Marketing Communications Manager, LiquidPower Specialty Products Inc. (LSPI)
281-948-4981 | This email address is being protected from spambots. You need JavaScript enabled to view it.

Advent’s Systems Can Result in Fast Decarbonization of the Oil and Gas Industry

BOSTON--(BUSINESS WIRE)--Advent Technologies Holdings, Inc. (NASDAQ: ADN) (“Advent” or the “Company”), an innovation-driven leader in the fuel cell and hydrogen technology space, today announced the launch of the M-ZERØ™ family of products.

The Advent M-ZERØ™ products, designed specifically to generate power in remote environments, will offer the ability to drop methane emissions to effectively zero where they replace methane polluting pneumatic injection technology. The overall methane emissions related to wellheads approaches 40 million tons of carbon dioxide emissions per year, which is equivalent to the carbon footprint of more than eight million passenger cars. M-ZERØ™ will initially be featured mainly in Canada and the United States with the aim of providing remote power to up to 185,000 oil and gas wellheads.

In the winter, fuel cell systems are expected to operate at extreme freezing temperatures, powering the electronic injection of methanol (process power) and the Supervisory Control and Data Acquisition (“SCADA”) monitoring hardware of each wellhead. Until now, remote wellheads have relied on a pneumatic injection of methanol -- a process that vents approximately six tons of methane per wellhead per year.

The family of products includes the M-ZERØ™ 50W and 150W models with plans for power levels up to 400W by the end of 2022. Advent has additional plans, pending the closing of the acquisition referenced below, to develop alongside Serenergy A/S ("SerEnergy") an M-ZERØ™ 5kW fuel cell system to be rolled out in 2022. The M-ZERØ™ 50-400 systems include advanced features from Advent’s subsidiary UltraCell’s new Reformed Methanol Fuel Cell (“RMFC”) technology, which allows the system to run on methanol. Methanol is used in the oil and gas industry as a gas line antifreeze and is already available at each wellhead.

As the oil and gas industry continues to move to cleaner energy solutions, demand is increasing for electric systems and sensors to help drive down methane emissions, increase well productivity and safety, and decrease maintenance costs. Advent’s M-ZERØ™ solution will help the industry align with Canada’s 2025 target to cut emissions by 40 – 45% from 2012 levels. In addition, by 2023, all wellhead controllers must be non-emitting or low bleed and emit less than six standard cubic feet per hour (“SCFH”), or vent gas that is captured and combusted (including 100% of new wellhead controllers non-emitting in British Columbia and 90% of new wellhead controllers non-emitting in Alberta).

Meeting these requirements poses challenges for Canada’s oil and gas industry, especially as onshore drilling continues to grow in off-the-grid, remote areas. These efforts become even more challenging due to the fact that the standard solar-plus-battery storage solution does not perform well either in freezing conditions or in hard-to-reach areas, including mountains and forested regions.

Advent’s fuel-cell generators guarantee power to well sites year-round – offering a perfect “Any Fuel. Anywhere.” solution. The M-ZERØ™ fuel cells can work throughout the year, including during the winter (when temperatures can drop to -40^oC), and only need to be refueled as infrequently as once a year.

Advent’s Chairman and CEO Dr. Vasilis Gregoriou noted, “The M-ZERØ™ family of products has shown the value of Advent’s flexible "Any Fuel. Anywhere." option. Our technology provides constant remote power in hard-to-reach locations with extreme conditions where batteries have simply failed. We are especially proud of the potential of this solution to drive methane emissions to zero in the oil and gas industry and move towards our goal of a cleaner world. Our remote power solutions are a real game changer for the oil and gas industry and the global market of off-grid power.”

Advent estimates that the global market for fuel cell solutions in oil and gas wellheads has the potential to be a substantial growth market, with a significant part of the opportunity in North America. Advent expects to expand its remote power generation solutions for wellheads, mines, telecom towers, construction sites and other critical infrastructure remote locations with the addition, upon the acquisition’s closing, of SerEnergy’s 5kW fuel cell systems based on the same high-temperature polymer electrolyte membrane (“HT-PEM”) technology.

The next key step in bringing fuel cells to well sites includes agreements to trial 10 50W systems in Alberta with oil and gas companies, with an initial deployment in Canada by October 2021 and mass deployment by 2022-2023.

Advent entered into a definitive agreement late June to acquire the fuel cell systems businesses of fischer Group, including SerEnergy, based in Aalborg, Denmark, and fischer eco solutions GmbH, (“FES”), based in Achern, Germany. SerEnergy is a leading manufacturer of HT-PEM fuel cells globally, with thousands of systems shipped around the world. FES provides fuel-cell stack assembly and testing as well as the production of critical fuel cell components, including membrane electrode assemblies (“MEAs”), bipolar plates, and reformers. The transaction, pending regulatory approval and standard closing conditions, is expected to accelerate the implementation of Advent’s business plan and to expand the company’s growing revenue base in full fuel cell stacks and systems.

The Advent Solution allows for the below key benefits:

• Fuel Availability: M-ZERØ™ is fueled by technical grade methanol, which is widely available at many wellheads, where it is commonly used as an anti-freeze. There is no need for expensive imported proprietary methanol blends.

• Fuel Efficiency: Up to 10x higher efficiency than thermoelectric generators and 5x more efficient than internal combustion engine generators.

• Success in Extreme Conditions: Based on a military-specified design, M-ZERØ™ products can be quickly transported and deployed wherever necessary, including under rough oil and natural gas field conditions.

Advantages that fuel cells bring to well sites:

• Significantly Lower Total Cost of Ownership than Thermoelectric Generators: 50%+ savings at scale due to lower fuel costs (including 90% fuel savings relative to thermoelectric generators), lower installation costs and reduced maintenance costs.

• Clean Energy: 10x less greenhouse gas emitted vs. traditional combustion generators, including zero nitrogen oxides, sulfur oxides and particulate emissions.

• Compelling Financial Model: 50%+ product gross margins at scale.

• Flexibility: M-ZERØ™ works seamlessly in parallel with solar panels, providing wellhead power during low solar load northern winters and or bad weather.

• Adaptability: M-ZERØ™ uses industrial-grade methanol that is already available at most sites.

About Advent Technologies Holdings, Inc.

Advent Technologies Holdings, Inc. is a US corporation that develops, manufactures, and assembles critical components for fuel cells and advanced energy systems in the renewable energy sector. Advent is headquartered in Boston, Massachusetts, with offices in the San Francisco Bay Area and Europe. With 120-plus patents issued (or pending) for its fuel cell technology, Advent holds the IP for next-generation high-temperature proton exchange membranes (HT-PEM) that enable various fuels to function at high temperatures under extreme conditions – offering a flexible "Any Fuel. Anywhere." option for the automotive, maritime, aviation, and power generation sectors. For more information, visit www.Advent.energy.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” and other words of similar meaning. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to realize the benefits from the business combination; the Company’s ability to maintain the listing of the Company’s common stock on Nasdaq; future financial performance; public securities’ potential liquidity and trading; impact from the outcome of any known and unknown litigation; ability to forecast and maintain an adequate rate of revenue growth and appropriately plan its expenses; expectations regarding future expenditures; future mix of revenue and effect on gross margins; attraction and retention of qualified directors, officers, employees and key personnel; ability to compete effectively in a competitive industry; ability to protect and enhance our corporate reputation and brand; expectations concerning our relationships and actions with our technology partners and other third parties; impact from future regulatory, judicial and legislative changes to the industry; ability to locate and acquire complementary technologies or services and integrate those into the Company’s business; future arrangements with, or investments in, other entities or associations; and intense competition and competitive pressure from other companies worldwide in the industries in which the Company will operate; and the risks identified under the heading “Risk Factors” in our Annual Report on Form 10-K/A filed with the Securities and Exchange Commission on May 20, 2021, as well as the other information we file with the SEC. We caution investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document, and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Advent Technologies Holdings, Inc.
Elisabeth Maragoula
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Sloane & Company
James Goldfarb / Emily Mohr
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Friday, July 30, 2021, Webinar Panel Discussion

WASHINGTON--(BUSINESS WIRE)--#NDPI--Georgetown University:

When: Friday, July 30, 2021 (9-11 a.m. ET | 8-10 a.m. CT | 2-4 p.m. WAT)

Where: Register for this Zoom Webinar here.

What: Business for Impact at Georgetown University’s McDonough School of Business, together with research partner Frontier Design, announce a new study that analyzes 10 years of partnership-building and investment by Chevron and USAID (U.S. Agency for International Development) through the Foundation for Partnership Initiatives in the Niger Delta (PIND) in Nigeria's Niger Delta Region. The research focused on a broad suite of projects across different sectors that resulted in increased economic development, job creation, and stability in this region. The case study also provides lessons learned and recommendations for public-private partnerships going forward. The findings will be released at a virtual launch event open to the public on Friday, July 30, 2021. To preview the complete study, please visit Business for Impact.

Chevron and USAID invested more than $50 million during the 10-year period. Since 2010 PIND has catalyzed over $100 million in additional investments into the Niger Delta for:

• Training for farmers to pursue agriculture as a business
• Strengthening the systems to bring these products to market in Niger Delta and beyond
• Improving food security and economic growth in communities all over the region
• Contributing to sustainability through short term grants

"Our research findings underscore the power of bringing together like-minded and purposeful organizations dedicated, in this case, to achieving a more prosperous and stable Niger Delta," says Leslie Crutchfield, executive director of Business for Impact and one of the study's editors. "The authors have unearthed important insights and lessons learned that can help inform future public-private partnerships, whether in Nigeria or in other Global South countries."

Who: The virtual event will feature distinguished panelists who will answer questions at the end of the session.

• Gael O'Sullivan, Business for Impact, McDonough School of Business, Georgetown University
• David Rogers, USAID (U.S. Agency for International Development)
• Mamadou Beye, Chevron
• Dara Akala, PIND (Foundation for Partnership Initiatives in the Niger Delta)
• Alexa Courtney, Frontier Design
• Scott Cameron, USAID (U.S. Agency for International Development)

About Business for Impact

Business for Impact at Georgetown University's McDonough School of Business unleashes the power of the private sector to help people and the planet thrive. Business for Impact strives to help solve today's pressing problems through delivering world-class education, impactful student experience, and direct action with corporations, nonprofits, and government. Our aspiration is that Georgetown-educated leaders will be renowned for managing the triple bottom line – people, planet, and profit. Learn more about Business for Impact.

About Frontier Design

Frontier Design is a strategy and design firm committed to helping organizations and communities think differently, adapt to change, and accelerate their impact in the world. Frontier approaches challenges with creativity, courage, and commitment to reveal the organizational and human dynamics that impact change in complex environments. Learn more about Frontier Design.

About Chevron

Chevron is one of the world's leading integrated energy companies. We believe affordable, reliable, and ever-cleaner energy is essential to achieving a more prosperous and sustainable world. Chevron produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals, and additives; and develops technologies that enhance our business and the industry. To advance a lower-carbon future, we are focused on cost-efficiently lowering our carbon intensity, increasing renewables and offsets in support of our business, and investing in low-carbon technologies that enable commercial solutions. Learn more about Chevron.

About USAID

On behalf of the American people, we promote and demonstrate democratic values abroad, and advance a free, peaceful, and prosperous world. In support of America's foreign policy, the U.S. Agency for International Development leads the U.S. Government's international development and disaster assistance through partnerships and investments that save lives, reduce poverty, strengthen democratic governance, and help people emerge from humanitarian crises and progress beyond assistance. Learn more about USAID.

About PIND

The Foundation for Partnerships Initiatives in the Niger Delta (PIND) is a Nigerian non-profit organization established in 2010 with initial funding from Chevron Corporation to promote peace and equitable economic growth in Nigeria's Niger Delta region by forging multi-sectoral and multi-stakeholder partnerships at the regional, national and international levels. PIND works closely with numerous partners to implement collaborative market-based, community-owned programs to mitigate conflicts and boost economic opportunities for local businesses, ensuring that economic progress occurs in a systemic, inclusive, and sustainable manner. Learn more about PINDfoundation.org.

Berry Brady Georgetown University, Business for Impact
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Abbie Elliott, PIND (Foundation for Partnership Initiatives in the Niger Delta)
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Seasoned Global Commercial Executive to Spearhead Company’s Expansion in Asian Markets

TORONTO--(BUSINESS WIRE)--Li-Cycle Corp. ("Li-Cycle" or "the Company"), an industry leader in lithium-ion battery resource recovery and the leading lithium-ion battery recycler in North America, today announced the appointment of Dawei Li to the role of VP of Asia, effective immediately. Focused on the Asian market, Mr. Li will oversee Li-Cycle’s team, business development, and commercial lithium-ion battery recycling facility rollout across the continent.

Mr. Li brings more than 15 years of experience in strategy development and leading growth in untapped markets at international companies to his role at Li-Cycle. He joins Li-Cycle at a critical inflection point as the Company approaches its debut as a publicly traded company in the U.S. and expands its operations into Asia, in addition to other regions around the globe. Mr. Li reports directly to Li-Cycle co-founder and Chief Executive Officer, Ajay Kochhar.

"The Asian lithium-ion battery market is the world’s largest, presenting a considerable supply of battery manufacturing scrap as well as lithium-ion batteries that are approaching their end-of-life and will need to be recycled,” said Mr. Kochhar, Li-Cycle’s CEO. “I am excited to welcome Mr. Li to Li-Cycle as he will play a major role in our global growth plans by spearheading our expansion in Asia. Asia is one of the key components of our broader global rollout plan over the next five years and beyond.”

“Li-Cycle’s leadership, commercial technology, and vision are all best-in-class and I am thrilled to be in a position to make a significant, positive impact on a Company that is poised to rapidly deploy its capabilities,” said Mr. Li. “I have a keen understanding of the Asian market’s landscape and plan on leveraging my experience with directing global teams to facilitate Li-Cycle’s expansion in a region that is experiencing prolific growth of electrification and lithium-ion batteries.”

Prior to joining Li-Cycle, Mr. Li served as the Global Business Director for Lithium Carbonate at the Albemarle Corporation, where he developed the battery grade strategy and executed on business development plans in key regions resulting in robust performance. Previously, Mr. Li was a Global Segment Marketing Manager for Eastman Chemical Company leading corporate growth initiatives and launching efforts to generate demand for existing products while commercializing novel ones. Mr. Li began his career in Shanghai, China working for PwC.

Mr. Li holds his BBA in Marketing from Shanghai University of Finance and Economics and an MBA from the Darden School of Business at the University of Virginia.

About Li-Cycle Corp.

Li-Cycle is on a mission to leverage its innovative Spoke & Hub Technologies™ to provide a customer-centric, end-of-life solution for lithium-ion batteries, while creating a secondary supply of critical battery materials. Lithium-ion rechargeable batteries are increasingly powering our world in automotive, energy storage, consumer electronics, and other industrial and household applications. The world needs improved technology and supply chain innovations to better manage battery manufacturing waste and end-of-life batteries and to meet the rapidly growing demand for critical and scarce battery-grade raw materials through a closed-loop solution. For more information, visit https://li-cycle.com/.

On February 16, 2021, Li-Cycle announced its entry into a definitive business combination agreement with Peridot Acquisition Corp. (NYSE: PDAC) ("Peridot"). Upon the closing of the business combination, which is expected in the third quarter of 2021, the combined company will be named Li-Cycle Holdings Corp.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

In connection with the proposed transaction involving Li-Cycle and Peridot, Li-Cycle Holdings Corp. ("Newco") has prepared and filed with the SEC a registration statement on Form F-4 that includes both a prospectus of Newco and a proxy statement of Peridot (the "Proxy Statement/Prospectus"). Once effective, Peridot will mail the Proxy Statement/Prospectus to its shareholders and file other documents regarding the proposed transaction with the SEC. This communication is not a substitute for any proxy statement, registration statement, proxy statement/prospectus or other documents Peridot or Newco may file with the SEC in connection with the proposed transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS WHEN IT BECOMES AVAILABLE, ANY AMENDMENTS OR SUPPLEMENTS TO THE PROXY STATEMENT/PROSPECTUS, AND OTHER DOCUMENTS FILED BY PERIDOT OR NEWCO WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION BECAUSE THESE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. Investors and security holders will be able to obtain free copies of the Proxy Statement/Prospectus and other documents filed with the SEC by Peridot or Newco through the website maintained by the SEC at www.sec.gov.

Investors and securityholders will also be able to obtain free copies of the documents filed by Peridot and/or Newco with the SEC on Peridot's website at www.peridotspac.com or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

PARTICIPANTS IN THE SOLICITATION

Li-Cycle, Peridot, Newco, and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in connection with the proposed transaction. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of proxies in connection with the proposed transaction, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in the Proxy Statement/Prospectus. Information regarding the directors and executive officers of Peridot is contained in Peridot's Annual Report on Form 10-K for the year ended December 31, 2020, filed with the SEC on March 26, 2021 and certain of its Current Reports filed on Form 8-K. These documents can be obtained free of charge from the sources indicated above.

NO OFFER OR SOLICITATION

This communication does not constitute an offer to sell or the solicitation of an offer to buy any securities of Peridot or Newco or a solicitation of any vote or approval. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

CAUTION CONCERNING FORWARD-LOOKING STATEMENTS

Certain statements contained in this communication may be considered forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21 of the Securities Exchange Act of 1934, as amended, including statements regarding the proposed transaction involving Li-Cycle and Peridot and the ability to consummate the proposed transaction. Forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as "may," "will," “should,” “would,” “expect,” “anticipate,” “plan,” “likely”, “believe,” “estimate,” “project,” “intend,” and other similar expressions among others. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors, including, without limitation: (i) the risk that the conditions to the closing of the proposed transaction are not satisfied, including the failure to timely or at all obtain shareholder approval for the proposed transaction or the failure to timely or at all obtain any required regulatory clearances, including under the Hart-Scott Rodino Antitrust Improvements Act; (ii) uncertainties as to the timing of the consummation of the proposed transaction and the ability of each of Li-Cycle and Peridot to consummate the proposed transaction; (iii) the possibility that other anticipated benefits of the proposed transaction will not be realized, and the anticipated tax treatment of the combination; (iv) the occurrence of any event that could give rise to termination of the proposed transaction; (v) the risk that stockholder litigation in connection with the proposed transaction or other settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense, indemnification and liability; (vi) changes in general economic and/or industry specific conditions; (vii) possible disruptions from the proposed transaction that could harm Li-Cycle’s business; (viii) the ability of Li-Cycle to retain, attract and hire key personnel; (ix) potential adverse reactions or changes to relationships with customers, employees, suppliers or other parties resulting from the announcement or completion of the proposed transaction; (x) potential business uncertainty, including changes to existing business relationships, during the pendency of the proposed transaction that could affect Li-Cycle’s financial performance; (xi) legislative, regulatory and economic developments; (xii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism, outbreak of war or hostilities and any epidemic, pandemic or disease outbreak (including COVID-19), as well as management’s response to any of the aforementioned factors; and (xiii) other risk factors as detailed from time to time in Peridot’s reports filed with the SEC, including Peridot’s annual report on Form 10-K, periodic quarterly reports on Form 10-Q, periodic current reports on Form 8-K and other documents filed with the SEC. The foregoing list of important factors is not exclusive. Neither Li-Cycle nor Peridot can give any assurance that the conditions to the proposed transaction will be satisfied. Except as required by applicable law, neither Li-Cycle nor Peridot undertakes any obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.

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Industry group develops preparedness program; details best practices to avoid CO, electrical, and fire hazards

CLEVELAND--(BUSINESS WIRE)--Forest fires are natural and having many in the mid- to late-summer is normal. Some conifers have even evolved to actually need fire to germinate. But there’s no doubt that big, intense burns are now more common. And this year’s fire season came about a month early and with terrifying ferocity.

Power outages are imminent.

Public safety personnel, government officials, and media are encouraged to use their platforms to prepare the public, not only for how to survive a fire, but also how to survive power outages.

Either because of Flex Alerts, Public Safety Power Shut-Offs, planned black outs, or, at worse, downed transmission lines, the demand for portable generators will peak. They can be lifesaving devices during perilous times, but they also come with their own dangers—virtually all of which are preventable.

Due to improper consumer use of portable generators, people suffer carbon monoxide poisoning. People can even start other fires as they’re trying to protect their homes from a looming wildfire. To help keep owners of portable generators and their families safe, the Portable Generator Manufacturers’ Association (PGMA) developed Take it Outside™, a program that encourages at-risk residents to start thinking about how and where generators can be safely used.

Much like preparing for any calamity, the time to plan is before a trouble strikes.

The Take it Outside program emphasizes that the only safe way to operate a portable generator is by taking it outside. This planning as to, one, where you will position your alternative energy source and, two, ensuring you have extension cord length to accommodate the safe distance, is mandatory to keep people safe from the colorless, odorless threat of carbon monoxide. The program also offers tips to avoid electrical and fire hazards.

Complete primer notes are available online and include a video and printable fact sheet.

Inevitably power outages will happen. What can and does help is preparedness. Please consider reviewing PGMA’s safety materials, make a plan, and practice the plan.

About PGMA

The Portable Generator Manufacturers’ Association (PGMA) is a trade association that seeks to develop and influence safety and performance standards for our industry’s products. PGMA members include major manufacturers of portable generators sold in North America. www.pgmaonline.com.

Pete Zeller
216.579.6100 ext. 2
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Sold to Mexico-based FINSA, the $145,500,000 Transaction Signals a Shift from California to Texas as a Desired Point of US Entry

PHILADELPHIA--(BUSINESS WIRE)--#binswanger--Binswanger Commercial Real Estate Services, an innovator in commercial real estate since 1931, today announced that it has secured a buyer for the Oradel Industrial Center located at Bulevar World Trade Center 101 Pte, Parque Industrial Oradel, Nuevo Laredo, Mexico. The property sits less than ten miles from the Gateway to the Americas International Bridge which accounts for 40% of US-Mexican trade –the most trafficked American trade route. FINSA purchased a 2.6 million square foot portion of the park for $145,500,000. The balance of the portfolio, which is four buildings and roughly 500,000 SF, is slated to close by the end of the year with an anticipated value of roughly $50,000,000. Oradel is the largest portfolio sale along the Texas border.

The Binswanger team responsible for the transaction was comprised of five brokers –three from the United States out of Binswanger’s Headquarters in Philadelphia, PA (David Binswanger, Josh Haber, and Jason Kramer), and two from Binswanger Mexico (Luis Manuel Gerard and Karl Binderberger).

“We were extremely pleased to see the level of interest from around the world for this portfolio,” said Josh Haber, Senior Vice President & Partner, Binswanger. “As global corporations rethink their manufacturing and distribution strategies to get products to the customer as quickly and cost-effectively as possible, a portfolio like this garnered significant attention from a variety of multi-national prospective buyers.”

In late 2020, Binswanger was named exclusive agent to market the Oradel Industrial and Rail Park Portfolio. The property consists of 16 Class-A industrial buildings totaling 3,300,000 Square Feet. The complex houses companies from a variety of business sectors including the medical industry (47%), logistics (14%), automotive (14%) and manufacturing (8%). The multi-national tenants include Medline, Caterpillar, and Smurfit Kappa.

“Most deals like this, offering border access to the US market, border California, not Texas,” said Luis Manuel Gerard, Chairman, Binswanger Mexico. “Oradel’s proximity to the NAFTA Highway affords international companies in Mexico more efficient access to customers on the eastern seaboard than California. With its excellent road and rail connections, qualified labor force, and proximity to the US border, Nuevo Laredo is an excellent location to service the US market. FINSA clearly understands the growth potential of Nuevo Laredo.”

Over the last 10 years, Nuevo Laredo has shown constant growth with single-digit vacancy rates and an inventory 13 million square feet at the end of 2020.

Oradel represents one of the most important Class-A industrial properties in Mexico. The nearby border crossing accounts for $324 Billion in annual trade with more than 14,000 trucks and 1,800 rail car crossings each day.

Property Images:

Full Park Aerial Overview

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About Binswanger

Binswanger, a global leader in full-service commercial real estate, has been helping its clients realize their full real estate potential since 1931. Founded by real estate innovator and pioneer, Frank Binswanger Sr., the company operates with the understanding that real estate has the ability to strengthen businesses and transform communities. The company offers a variety of services benefitting both owners and occupiers including global real estate brokerage, location consulting, investment sales, tenant representation, corporate advisory, strategic consulting, and a variety of management services. Having worked with more than half of the Fortune 500, the employee-owned company has long been known as the industry leader in the acquisition and disposition of industrial and commercial facilities around the globe. For more information, please visit www.binswanger.com.

Owen Murphy
PH: 215.680.0155
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ATLANTA--(BUSINESS WIRE)--Having operated and maintained assets, deployed and trained workforces in remote locations around the world, and building on years of experience in Nigeria, PIC Group has entered into a 5-year service agreement with Azikel Petroleum Ltd. for the new Azikel Refinery to be located in Yenagoa, Bayelsa State, Nigeria. Under the terms of the agreement, PIC Group will provide Operations and Maintenance (O&M) support services including site-specific integrated operation & maintenance procedures, a systematic approach to training as well as operational support in the form of oversight and mentoring of refinery personnel by PIC Group’s specialists. PIC Group’s thorough and sustainable qualification programs combined with a comprehensive approach to organizational development will enable the new Azikel Refinery to efficiently transition from commissioning and startup through to full operation as well as facilitate staff localization for the new 12,000 bpd hydroskimming refinery.

“PIC Group’s O&M experience, approach to site-specific qualification programs and precise site-specific procedural documentation, creates a consistent base of knowledge for the Azikel Refinery to improve efficiency, and ensure reliable, consistent, safe operation,” said Ian Anderson, Executive Director and VP Refinery at Azikel Petroleum.

“PIC Group’s systematic methodology for knowledge transfer embraces Azikel’s vision of self-performance and will empower the local community to lead the long-term operation of the facility while maintaining operational readiness and regulatory compliance across the lifecycle of the refinery,” said Frank Avery, President and CEO at PIC Group.

Dr. Eruani, Group President said, “Training of our staff was of paramount importance to Azikel in our selection of the O&M services contractor, and we are very pleased with the comprehensive program proposed by the PIC Group.”

About Azikel Petroleum Ltd.

Azikel Petroleum Ltd. is part of the Azikel Group, a privately owned company involved in dredging, aviation, power generation and petroleum businesses supporting the infrastructure development of Nigeria. Established in 2008, the company’s focus is in the industrialization, employment, and the development of human capital with a geographic focus in the Niger Delta region of the country.

About PIC Group

Founded in 1988, PIC Group, Inc. is dedicated to delivering value by providing global energy services to facilities across four continents – North America, South America, Asia and Africa. PIC Group provides O&M Services (Care, Custody and Control), Commissioning and Startup, Documentation & Training and Staffing services and serves the power generation, oil and gas, petrochemical, pulp and paper and manufacturing industries.

PIC Group, Inc. is a wholly owned subsidiary of Marubeni Corporation, a Fortune Global 500 Company. Marubeni is a major Japanese sogo shosha (international trading company) and the third largest global independent power producer (IPP).

(www.picgroupinc.com)

About Marubeni

Marubeni Corporation and its consolidated subsidiaries use their broad business networks, both within Japan and overseas, to conduct importing and exporting (including third country trading), as well as domestic business, encompassing a diverse range of business including consumer products, food, agriculture, chemicals, energy and metals and power business machinery and infrastructure.

Douglas Shuda, Marketing Director
678-627-4142
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TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) announced today the release of its 2020 Sustainability Report, a comprehensive review of environmental, social and governance (ESG) performance metrics as the company meets growing demand for clean, affordable and reliable energy while protecting the environment and building strong communities. An electronic version of the report is available at www.williams.com.

“Our 2020 Sustainability Report outlines the important role natural gas plays today in a viable and sustainable low-carbon future and how natural gas is critical to addressing and slowing climate change,” said Williams President and CEO Alan Armstrong. “As this report details, we are making headway on critical ESG-related fronts; for example, becoming the first North American midstream company to set a near-term climate goal based on right here, right now emissions reduction opportunities and driving progress toward diversifying our workforce and leadership team. We’re also looking to the future as our nationwide infrastructure footprint is well-suited and adaptable to renewable energy sources like clean hydrogen and RNG blending. Williams’ ongoing focus on sustainable operations positions us well to meet clean energy demand for generations to come.”

Highlights of Williams’ 2020 Sustainability Report include the following:

• Set a near-term goal of a 56% absolute reduction from 2005 levels in company-wide greenhouse gas emissions by 2030, putting Williams on a path to net zero carbon emissions by 2050
• Reduced our reported methane emissions from natural gas processing plants and transmission compressor stations by more than 58% since 2012 while increasing throughput volumes by 27% over the same period
• Achieved a 33% decrease in air releases, surpassing our 2020 goal of 10%
• Achieved a 9% reduction in employee recordable injuries since 2017
• Joined the Leadership Advisory Board on the Coalition for Renewable Natural Gas to advocate for renewable natural gas in North America
• Introduced an educational platform, Catalyst, to provide resources to drive social awareness
• Contributed nearly $11 million to initiatives that make communities stronger
• Volunteered 18,263 hours with charitable organizations, representing $521,226 in value

Williams’ 2020 Sustainability Report was prepared in accordance with the Global Reporting Initiative (GRI) Standards and references the Sustainability Accounting Standards Board (SASB) Oil & Gas – Midstream Standard and Task Force on Climate-related Financial Disclosures (TCFD) and the United Nations Sustainable Development Goals (SDGs). In addition, Williams’ 2020 Sustainability Report received independent assurance from ERM Certification and Verification Services (ERM CVS) related to greenhouse gas emissions, safety data and pipeline integrity.

About Williams

Williams (NYSE: WMB) is committed to being the leader in providing infrastructure that safely delivers natural gas products to reliably fuel the clean energy economy. Headquartered in Tulsa, Oklahoma, Williams is an industry-leading, investment grade C-Corp with operations across the natural gas value chain including gathering, processing, interstate transportation and storage of natural gas and natural gas liquids. With major positions in top U.S. supply basins, Williams connects the best supplies with the growing demand for clean energy. Williams owns and operates more than 30,000 miles of pipelines system wide – including Transco, the nation’s largest volume and fastest growing pipeline – and handles approximately 30 percent of the natural gas in the United States that is used every day for clean-power generation, heating and industrial use. www.williams.com

Portions of this document may constitute “forward-looking statements” as defined by federal law. Although the company believes any such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the “safe harbor” protections provided under the Private Securities Reform Act of 1995. Additional information about issues that could lead to material changes in performance is contained in the company’s annual and quarterly reports filed with the Securities and Exchange Commission.

MEDIA:
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(800) 945-8723

INVESTOR CONTACT:
Danilo Juvane
(918) 573-5075

Grace Scott
(918) 573-1092

RICHMOND, Va.--(BUSINESS WIRE)--Harris Williams, a global investment bank specializing in M&A advisory services, announces it advised Worldwide Express, LLC (Worldwide Express), a portfolio company of Ridgemont Equity Partners (Ridgemont), on its sale to CVC Capital Partners (CVC). Worldwide Express is a leading provider of third-party logistics (3PL) services. CVC will merge Worldwide Express with GlobalTranz Enterprises, LLC (GlobalTranz), another leading non-asset based provider of 3PL solutions. The combination is sponsored by a consortium led by CVC and GlobalTranz’s current lead investors, Providence Equity Partners (Providence) and PSG. Ridgemont, Worldwide Express management and GlobalTranz management will also retain significant stakes in the combined entity. The transaction was led by Jason Bass, Frank Mountcastle, Jeff Burkett, Jeff Kidd, Nick Petrick and Justin Icardo of the Harris Williams Transportation & Logistics (T&L) Group.

“With a compelling suite of 3PL solutions, from parcel to less-than-truckload, as well as managed transportation, the combined Worldwide Express and GlobalTranz platform will serve a wide range of customers, from small- to medium-sized businesses to global enterprises,” said Jason Bass, a managing director at Harris Williams. “We look forward to supporting the combined company in the years to come.”

“We are very proud to have worked with both of these great companies multiple times. This transaction is yet another example of the strong interest that our sector continues to generate from the investment community,” added Frank Mountcastle, a managing director at Harris Williams.

“We have a longstanding, trusted relationship with Harris Williams. Their team’s familiarity with our business model and culture, along with their unmatched 3PL sector transaction experience, made them uniquely qualified to once again serve as our lead advisor. Their guidance through the major milestones in our company’s history has been invaluable,” added Tom Madine, chief executive officer of Worldwide Express.

Worldwide Express is a full-service, non-asset-based logistics provider offering more than 92,000 customers access to industry-leading small package, truckload and less-than-truckload (LTL) shipping solutions around the world. With an annual systemwide revenue approaching $2 billion through a network of company-owned and franchise locations, Worldwide Express, combined with Unishippers Global Logistics, LLC, is the second largest privately held freight brokerage company in the country. As the largest authorized UPS non-retail reseller in the U.S., the company is a local partner for the global supply chains of small- to medium-sized businesses nationwide. This, coupled with a selective portfolio of over 65 LTL and tens of thousands of truckload carriers, provides clients with an unmatched range of options and flexibility to meet their shipping needs.

Ridgemont is a Charlotte, North Carolina-based middle market buyout and growth equity investor. Since 1993, the principals of Ridgemont have invested over $5.5 billion. The firm focuses on equity investments up to $250 million and utilizes a proven, industry-focused investment approach and repeatable value creation strategies. Ridgemont’s most recent flagship fund, REP III, was formed in 2018 and has $1.65 billion of committed capital.

CVC is a leading private equity and investment advisory firm with a network of 23 offices throughout Europe, Asia and the U.S., with approximately $118 billion of assets under management. Since its founding in 1981, CVC has secured commitments in excess of $160 billion from some of the world's leading institutional investors across its private equity and credit strategies. Funds managed or advised by CVC are invested in over 90 companies worldwide, which have combined annual sales of approximately $100 billion and employ more than 450,000 people.

GlobalTranz is a full-service 3PL provider, bringing award-winning customer service, exceptional industry expertise and market-leading technology to shippers, carriers and logistics service providers. GlobalTranz’s people-powered approach, combined with comprehensive, relationship-driven support, provides shippers of all sizes with fast and reliable, multi-modal transportation services as well as strategic supply chain solutions – enabling them to optimize efficiency and deliver on business goals. Leveraging its extensive independent agent network, GlobalTranz has emerged as a fast-growing market leader with a customer base of over 1 million product users and 25,000 shippers.

Providence is a premier global private equity firm with approximately $45 billion in aggregate capital commitments. Providence pioneered a sector-focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm's inception in 1989, Providence has invested in over 170 companies and is a leading equity investment firm focused on the media, communications, education, software and services industries. Providence is headquartered in Providence, Rhode Island and also has offices in New York and London.

PSG is a growth equity firm that partners with middle market software and technology enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 65 companies and facilitated over 300 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston; Kansas City, Missouri; and London.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

The Harris Williams Transportation & Logistics Group serves companies in a broad range of attractive niches, including third-party logistics (3PL), automotive and heavy-duty vehicle, transportation equipment, and truck, rail, marine and air transportation. For more information on the firm’s T&L Group and other recent transactions, visit the T&L Group’s section of the Harris Williams website.

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: This email address is being protected from spambots. You need JavaScript enabled to view it.). Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.

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Julia Moore
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New HY-OPTIMA™ 5000 Series Provides Real-Time, Continuous Hydrogen Measurement with No Ongoing Calibration Needed

VALENCIA, Calif.--(BUSINESS WIRE)--H2scan, a leading provider of proven, proprietary hydrogen sensors and technologies for the hydrogen economy, announced today it has started shipping prototypes of its new HY-OPTIMA™ 5000 Series designed for process industries.

The HY-OPTIMA 5000 Series analyzer provides the most accurate, tolerant, and affordable hydrogen process gas measurement solution for industrial markets. It is optimized for emerging cost-sensitive applications like the power-to-gas market (hydrogen blending into natural gas pipeline), electrolyzers and other process applications, including laboratories, alternative energy, hydrogen-cooled generators and turbines.

HY-OPTIMA 5000 sensors are based on the same patented autocalibration technology as H2scan’s successful GRIDSCAN 5000 and legacy sensors. H2scan has sold and delivered more than 15,000 transformer sensors worldwide and no sensor has needed recalibration since its launch in 2012.

The HY-OPTIMA 5000 Series uses a solid-state, non-consumable sensor for direct hydrogen measurement in process gas streams. The HY-OPTIMA 5000 sensor package is available in a compact form factor weighing 1 pound and is 5.9 inches long and 1.6 inches wide/deep. This small size is due to H2scan’s groundbreaking 1.2 million-transistor application specific integrated circuit (ASIC). The HY-OPTIMA 5000 is IP68 rated, can be submerged in up to 30 feet of water for 14 days and is marine compatible.

The inline hydrogen process analyzer prototype features the first ever auto calibration capability and is ideal for stand-alone or OEM integration into existing analyzers. It can be used in gas streams where real-time, hydrogen-specific measurements can enhance process plant efficiencies, improve yields, reduce maintenance costs, and enable the green hydrogen economy.

Once installed and field calibrated, H2scan’s patented auto calibration feature eliminates drift and the need for periodic calibrations. No other maintenance is necessary. Communication with the unit is via serial communication using Modbus RTU over RS485.

The general purpose-rated analyzer measures hydrogen directly in process gas streams with no cross sensitivity to other gases. Hazardous area rated products are planned for release in 2022.

The HY-OPTIMA 5000 models include the model 5031, 5033, and 5034 analyzers, all of which are intended for use in non-condensing gas streams and work with or without hydrogen present.

“Innovation in hydrogen sensors is critical to the measurement and safety needs of the hydrogen economy, and the HY-OPTIMA 5000 offers groundbreaking accuracy, is maintenance free and has a small size,” said Dennis Reid, President and CEO of H2scan. “The HY-OPTIMA 5000 is designed for low-cost use in power-to-gas, hydrogen metering in homes, measuring purity for electrolyzers and a number of other emerging applications. We are looking forward to the ongoing trials and continued collaboration with large gas suppliers, manufacturers of electrolyzers, pipeline manufacturers and others in order to be the defacto hydrogen sensor technology used in all hydrogen-related applications.”

Reid went on to say, “I’m also excited about the HY-ALERTA 5000 safety systems that will soon be delivered. When that product ships, H2scan will have the only hydrogen safety sensor for this market, that I know of, that needs no calibration or maintenance for up to 10 years.”

Availability

H2scan has begun shipping prototypes to key customers and partners. To get more information about general availability of the HY-OPTIMA 5000 sensor click here: https://signup.e2ma.net/signup/1949550/34312/

For more information on H2scan, visit https://h2scan.com.

About H2scan Corporation

H2scan was founded in 2002, and has its headquarters, sales, production and marketing staff in Valencia, California. The Company provides the most accurate, tolerant and affordable hydrogen leak detection and process gas monitoring solutions for industrial markets. H2scan enables the accurate monitoring and control functions for a wide range of applications, including control systems, safety monitoring and alarm systems. H2scan supplies its hydrogen process analyzer and hydrogen leak detectors to utility, petrochemical, refinery, and gas line companies, nuclear power plants, fuel cell, petroleum and other industrial organizations through distribution, or long- term supply agreements. H2scan helps its customers meet safety, regulatory and process control requirements while doing critical hydrogen monitoring. H2scan’s customer base includes some of the largest manufacturing enterprises in the world including: General Electric, DOD, ABB, Siemens, ExxonMobil, Shell, Chevron, NASA, Proctor & Gamble and more.

H2scan now holds 33 patents on its core technology, software and electronics and its products are sold in over 50 countries worldwide. For more information, please visit http://www.h2scan.com.

David Rodewald, 805/494-9508
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Washington Governor Jay Inslee and Everett Mayor Cassie Franklin attend in support of the company’s expansion of operations and creation of new clean energy jobs

EVERETT, Wash.--(BUSINESS WIRE)--Helion Energy (Helion), a clean energy company committed to creating a new era of zero-carbon electricity through fusion, today broke ground on the next iteration of its fusion facility in Everett, Washington. The new facility will accelerate Helion’s efforts to build the world’s first commercially-viable fusion power plant.

“Washington is proud to be the home of world-leading pioneers developing affordable, clean energy solutions,” said Governor Jay Inslee. “It’s a great milestone that Helion is now ready to commercialize their innovative technology. With this new facility, Helion and Washington are taking game-changing action to address the climate crisis.”

Helion is developing a cost-effective, zero-carbon electrical power plant using its patented pulsed, non-ignition fusion technology. Helion’s fusion power plant will provide flexible, scalable, baseload power that is affordable, providing the world a new path to full decarbonization of electricity generation.

Helion’s new facility will bring over 150 high-quality and long-term jobs to Everett and the surrounding communities, positioning Washington and Snohomish County at the forefront of the world’s efforts to transition to a clean energy future. The new jobs created by Helion’s fusion facility also align with Everett’s efforts to create more opportunities in science, technology, engineering and mathematics (STEM) and draw from the extensive STEM talent pool already in the community.

“Helion is going to change the world! I’m so grateful this amazing, innovative company has chosen Everett for this new fusion facility,” said Everett Mayor, Cassie Franklin. “Clean energy is the future – and that future starts here.”

“At this facility, Helion will close in on its goal of breaking the fusion barrier and pushing the world towards the end of the fossil fuel era,” said Dr. David Kirtley, Founder and CEO of Helion Energy. “Helion has deep roots in Washington, having spent the last eight-plus years here researching and developing a technology with unparalleled implications for reshaping how the world obtains its energy. We are enormously proud to have Governor Inslee and Mayor Franklin, leaders and advocates of climate action and STEM innovation in attendance today, at the groundbreaking of our facility’s construction.”

About Helion

By applying proven and patented technologies, Helion is working towards building the world’s first commercially-viable fusion power plant which runs on a fuel that can be derived from water. Their zero-carbon solution is capable of low-cost 24/7 power generation that replaces the energy sources the world currently relies on, enabling a future with limitless, reliable and affordable clean electricity.

Scott Krisiloff
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HALIFAX, Nova Scotia--(BUSINESS WIRE)--Emera Inc. (TSX: EMA) is pleased to join the Energy Impact Partners Elevate Future Fund as a founding limited partner.

Energy Impact Partners, a global investment platform focused on a sustainable energy future, established the Elevate Future Fund to help address the disparity in access to capital for companies led by entrepreneurs from underrepresented groups.

“We’re proud to be part of this important initiative to connect innovative energy companies with essential capital, helping to break down barriers all while growing and supporting a lower-carbon economy,” says Karen Hutt, Executive Vice President Business Development and Strategy, Emera Inc. “Our Environmental, Social and Governance commitments are core to Emera’s strategy and the Elevate Future Fund aligns with our focus on helping to build stronger, more innovative communities that are more diverse and equitable for everyone.”

Investments from the Fund will focus on start-up companies that are founded or led by diverse talent, or that provide meaningful employment for underserved communities. The companies will also drive innovation in the areas of decarbonization, electrification, tech enabled infrastructure, reliability and resilience, and intelligent demand.

“We know innovation and new technology are critical to building a clean energy future that’s also affordable and reliable for customers,” says Hutt. “We look forward to enabling promising start-ups to make significant contributions to the energy transition in our local jurisdictions, and beyond.”

Emera is committed to leveraging the already strong business and innovation networks in the areas where we operate by working with community partners to better understand the local start-up landscape, spread awareness of the Fund, and facilitate connections.

“I look forward to working with Emera on creating a more equitable, diverse and inclusive energy transition through the Elevate Future Fund,” said Anthony Oni, Managing Partner of the Elevate Future Fund at Energy Impact Partners. “With the creation of the Elevate Future Fund we are addressing the need for the venture capital community to come together to provide better opportunities for underserved communities in our industry, and Emera’s commitment will help us address this need.”

The Fund has already made three investments in diverse companies focused on the energy transition. This includes Los Angeles-based ChargerHelp! that has developed a mobile application and web-based platform for rapid, on-demand repair of electric vehicle charging stations; Project Canary, an international environmental standards company based in Denver; and HopSkipDrive, an innovative, safe, and dependable youth transportation solution for schools, districts, government agencies and families.

About Emera

Emera Inc. is a geographically diverse energy and services company headquartered in Halifax, Nova Scotia, with approximately $31 billion in assets and 2020 revenues of more than $5.5 billion. The company primarily invests in regulated electricity generation and electricity and gas transmission and distribution with a strategic focus on transformation from high carbon to low carbon energy sources. Emera has investments in Canada, the United States and in four Caribbean countries. Emera’s common and preferred shares are listed on the Toronto Stock Exchange and trade respectively under the symbol EMA, EMA.PR.A, EMA.PR.B, EMA.PR.C, EMA.PR.E, EMA.PR.F, EMA.PR.H and EMA.PR.J. Depositary receipts representing common shares of Emera are listed on the Barbados Stock Exchange under the symbol EMABDR and on The Bahamas International Securities Exchange under the symbol EMAB. Additional information can be accessed at www.emera.com or at www.sedar.com.

About Energy Impact Partners

Energy Impact Partners, LP (EIP) is a global investment platform leading the transition to a sustainable energy future. EIP brings together entrepreneurs and the world's most forward-looking energy and industrial companies to advance innovation. With over $2.0 billion in assets under management, EIP invests globally across venture, growth, credit and infrastructure – and has a team of more than 50 professionals based in its offices in New York, San Francisco, Palm Beach, London, and Cologne. For more information on EIP, please visit www.energyimpactpartners.com.

Media:
Dina Seely
Emera Corporate Communications
902-478-0080
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Rajan will further drive company’s market leadership as most connected logistics platform, building on experience as CTO of Whole Foods and COO of Zappos

MINNEAPOLIS--(BUSINESS WIRE)--#CHRobinson--C.H. Robinson (Nasdaq: CHRW) announced today that Arun Rajan will be joining the company as Chief Product Officer, effective September 1, 2021. Rajan will report to Chief Executive Officer Bob Biesterfeld and will lead all global product development and innovation across C.H. Robinson’s platforms.

“Arun is a seasoned leader, with a long history of developing and deploying products that enrich the customer experience and create value at industry leading companies. I am incredibly excited to have him join the Robinson leadership team. As we continue to focus on creating differentiated value for the nearly 200,000 carriers and customers of Robinson, Arun’s deep experience and his strong leadership capabilities will be invaluable as we drive the next generation of innovation for our industry while creating sustainable long-term value for our shareholders.”

Rajan brings nearly three decades of product and technology experience to the role, and he most recently served as Chief Technology Officer of Whole Foods Market, a subsidiary of Amazon. Prior to joining Whole Foods, Rajan was the Chief Operating Officer and Chief Technology Officer for the pioneering online retailer Zappos during a period when they redefined the customer experience in ecommerce. He was also Co-Founder and CTO at Intent Media, a data science company for the world’s preeminent online travel and commerce brands. Rajan earlier served as CTO of One Kings Lane and Travelocity Europe.

“I am thrilled to join C.H. Robinson at this time of significant opportunity,” Rajan said. “Robinson is an industry leader with a great culture and a powerful platform for growth. I look forward to working with Bob and the team to lead the company’s product innovation and to further develop the product strategy and technology roadmap to deliver industry leading outcomes for our customers and partners and to help lead the company into its next phase of growth.”

Rajan earned a BS degree in Computer Science and an MS degree in Information Systems Management.

About C.H. Robinson

C.H. Robinson solves logistics problems for companies across the globe and across industries, from the simple to the most complex. With $21 billion in freight under management and 19 million shipments annually, we are one of the world’s largest logistics platforms. Our global suite of services accelerates trade to seamlessly deliver the products and goods that drive the world’s economy. With the combination of our multi-modal transportation management system and expertise, we use our information advantage to deliver smarter solutions for our more than 105,000 customers and 73,000 contract carriers. Our technology is built by and for supply chain experts to bring faster, more meaningful improvements to our customers’ businesses. As a responsible global citizen, we are also proud to contribute millions of dollars to support causes that matter to our company, our Foundation and our employees. For more information, visit us at www.chrobinson.com (Nasdaq: CHRW).

Source: C.H. Robinson
CHRW-IR

FOR INVESTOR INQUIRIES, CONTACT:
Chuck Ives, Director of Investor Relations
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